Over 8 in 10 businesses tap tokenised money for expansion, liquidity management: DBS survey
South-east Asia emerges as top destination for companies expanding into new markets, report shows
A DBS survey reveals that over 80% of large corporations are already using or testing tokenised money to bolster liquidity and explore new markets. Conducted across 11 markets with 422 business leaders, the research indicates a faster-than-anticipated adoption of tokenised money, with stablecoins leading the way. Lim Soon Chong, DBS's group head of global transaction services, highlighted that stablecoins offer advantages such as improved fungibility and reduced permissioning hurdles, but their adoption is contingent on regulatory developments to ensure compliance with anti-money laundering norms and enterprise use cases.
Most leaders anticipate reaping the benefits of tokenised money, like enhanced traceability and auditability, within the next two years. The survey also noted that South-east Asia is a top destination for expansion, followed by Australia and New Zealand, and India. Over three-quarters of survey respondents adapted their operations and expanded into new markets amid market volatility.
The renminbi is gaining traction as a trade settlement currency, particularly in markets with deep trade integration and proximity to mainland China such as Taiwan, Hong Kong, South Korea, Indonesia, and Singapore.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
